use the gradient formula

1. The benefits of a revised production schedule for a seasonal manufacturer will not berealized until the peak summer months. Net savings will be $1100, $1200, $1300, $1400, and $1500 at the ends of months 5, 6, 7, 8, and 9, respectively. It is now the beginning ofmonth 1. Assume 365 days per year, 30 days per month. What is the present worth(PW) of the savings if nominal interest is (a) 12 percent per year, compounded monthly? (b) 12 percent per year, compounded daily